Money and Credit Class 10 Economics full chapter (Animation) | Class 10 Economics Chapter 3 | CBSE
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Chapter 3 of class 10th Economics discusses the history and forms of money, the banking system, and how money facilitates transactions. It explores the evolution of money from the barter system to modern currency, the role of banks in providing credit, and the importance of formal loans in economic development.
Insights
- The transition from the barter system to the use of money significantly streamlined transactions by eliminating the need for a double coincidence of wants, allowing for smoother exchanges of goods and services.
- The prevalence of informal sector credit in both rural and urban areas underscores the importance of increasing formal credit availability through banks and corporate societies to provide affordable and accessible loans, with Self Help Groups (SHGs) emerging as a successful model in addressing credit gaps, particularly in rural communities, empowering women and addressing social issues.
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Recent questions
What is the history of money?
Money evolved from barter to metallic coins.
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